Abstract
The symmetric translog expenditure function leads to a demand system that has unitary income elasticity but non-constant price elasticities. This expenditure function will be useful in monopolistic competition models, and retains its properties even as the number of goods varies.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.